Thornburg Investment Management Inc. Sells 57,465 Shares of The Charles Schwab Co. (NYSE:SCHW)

Thornburg Investment Management Inc. trimmed its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 936,351 shares of the financial services provider's stock after selling 57,465 shares during the period. Charles Schwab makes up approximately 0.9% of Thornburg Investment Management Inc.'s holdings, making the stock its 28th largest holding. Thornburg Investment Management Inc. owned approximately 0.05% of Charles Schwab worth $69,299,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Gladstone Institutional Advisory LLC raised its position in shares of Charles Schwab by 2.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock valued at $462,000 after purchasing an additional 124 shares during the period. N.E.W. Advisory Services LLC grew its stake in Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock valued at $557,000 after buying an additional 125 shares during the last quarter. Klingman & Associates LLC raised its holdings in Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 125 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in Charles Schwab by 2.7% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock worth $353,000 after acquiring an additional 127 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its position in shares of Charles Schwab by 1.2% in the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock valued at $832,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Analyst Ratings Changes

SCHW has been the subject of several research reports. Piper Sandler lifted their price target on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Morgan Stanley lifted their target price on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. UBS Group boosted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Friday, April 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,412 shares of company stock valued at $3,014,797. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

NYSE:SCHW traded down $1.61 during mid-day trading on Wednesday, reaching $87.57. The stock had a trading volume of 8,579,684 shares, compared to its average volume of 9,446,024. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $89.87. The stock has a market capitalization of $159.10 billion, a PE ratio of 29.29, a P/E/G ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a 50-day simple moving average of $79.37 and a two-hundred day simple moving average of $78.67.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the business posted $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, May 9th. Charles Schwab's dividend payout ratio is presently 32.73%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.